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Higher and Higher

What America really needs is higher taxes. In fact, it would be totally awesome campaign strategy for a Republican to just say, "Yeah, higher taxes! We need 'em!" Because clearly, GOP voters eat that sort of thing up.

Coming off a week-long recess and without any significant legislative victories this year, the pressure is on the Senate this week to pass the FY 2018 budget resolution, S.Con.Res. 25, which provides reconciliation instructions for fundamental tax reform. The House passed its own version of the FY 2018 budget, H.Con.Res. 71, on October 5 by a vote of 219 to 206.

An issue that has a tendency to come into the public consciousness from time to time is bringing back Glass-Steagall. Initially repealed in 1999 by the Financial Services Modernization Act, primarily known as the Gramm–Leach–Bliley Act, the law that separated commercial and investment banking has received renewed support with both party platforms during last year’s presidential election calling for it to be reinstated.

Grassroots activists celebrated a big win in Pennsylvania today. Governor Tom Wolf signed our country's largest pension reform into law today. FreedomWorks President Adam Brandon released the following statement:

Americans are suffering under the enormous tax burden placed upon them by the various government entities they live under, but help from Washington seems unreachable. Luckily for citizens of one state, tax reform could be coming swiftly, and from a surprising place.

Last month, Gov. Dannel Malloy (D-Conn.) announced that he will not seek, and he will not accept, the nomination of his party for another term as governor. This is not all that surprising as he sits at at a 66 percent disapproval rating, tying him for the second highest disapproval rating of any governor.

Perhaps the most controversial policy proposal in the House Republican blueprint for tax reform is the "border adjustment tax." Also known as a destination-based cash-flow tax (DBCFT), the border adjustment tax serves two key purposes in the blueprint.

FreedomWorks activists got two big wins today. The Senate Environmental and Public Works Committee approved Attorney General Scott Pruitt (R-Okla.), and the Senate Finance Committee approved Rep. Mick Mulvaney (R-S.C.). These nominees are now headed to the Senate floor for confirmation.